Wedbush Reaffirms "Outperform" Rating for Oklo (NYSE:OKLO)

Key Points

• Wedbush reiterated its “Outperform” rating on Oklo and set a $36 price target, implying 43.28% upside from the prior close.
• Analyst views vary: Oklo has a “Moderate Buy” consensus and an average target of $69.72, while individual targets range from $31 to $100 and one firm rates the stock “Sell.”
• Oklo’s latest quarterly results beat expectations, with a loss of $0.22 per share versus estimates of $0.27 and revenue of $1.86 million versus forecasts of $1.03 million.

Oklo (NYSE:OKLO - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Wedbush in a note issued to investors on Monday, Benzinga reports. They presently have a $36.00 price objective on the stock. Wedbush's price target points to a potential upside of 43.28% from the stock's previous close.

OKLO has been the topic of a number of other research reports. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Oklo in a research note on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Oklo in a research note on Wednesday. Barclays dropped their price objective on shares of Oklo from $76.00 to $59.00 and set an "overweight" rating for the company in a research note on Tuesday, October 20th. Canaccord Genuity Group reduced their target price on shares of Oklo from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Finally, Truist Financial decreased their target price on shares of Oklo from $51.00 to $31.00 and set a "hold" rating on the stock in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.72.

Oklo Stock Performance

Shares of OKLO traded up $1.58 during mid-day trading on Monday, hitting $25.13. 2,130,662 shares of the stock were exchanged, compared to its average volume of 11,066,100. The company has a market cap of $4.67 billion, a PE ratio of -25.90 and a beta of 1.31. Oklo has a 52-week low of $18.53 and a 52-week high of $117.44. The firm has a 50-day moving average of $33.56 and a two-hundred day moving average of $52.36.

Oklo (NYSE:OKLO - Get Free Report) last posted its earnings results on Friday, November 6th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.05. The business had revenue of $1.86 million during the quarter, compared to analysts' expectations of $1.03 million. During the same period last year, the business posted ($0.20) earnings per share. On average, sell-side analysts predict that Oklo will post -1.00 EPS for the current year.

Insiders Place Their Bets

In other news, insider Alexandra Renner sold 1,068 shares of Oklo stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $26.71, for a total value of $28,526.28. Following the completion of the transaction, the insider owned 593,750 shares in the company, valued at approximately $15,859,062.50. The trade was a 0.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Bealmear sold 16,727 shares of Oklo stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $25.55, for a total value of $427,374.85. Following the completion of the transaction, the chief financial officer owned 467,261 shares of the company's stock, valued at approximately $11,938,518.55. This trade represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 350,203 shares of company stock worth $12,424,945. 12.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Citizens Financial Group Inc. RI raised its holdings in shares of Oklo by 1.0% during the first quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company's stock worth $928,000 after purchasing an additional 182 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Oklo by 0.3% during the first quarter. The Manufacturers Life Insurance Company now owns 70,433 shares of the company's stock valued at $3,493,000 after purchasing an additional 183 shares during the period. Choreo LLC boosted its holdings in Oklo by 4.1% in the third quarter. Choreo LLC now owns 10,478 shares of the company's stock valued at $388,000 after purchasing an additional 412 shares during the last quarter. IFP Advisors Inc boosted its holdings in Oklo by 6.6% in the second quarter. IFP Advisors Inc now owns 7,143 shares of the company's stock valued at $374,000 after purchasing an additional 441 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in Oklo by 8.8% in the first quarter. Diversify Wealth Management LLC now owns 5,885 shares of the company's stock valued at $292,000 after purchasing an additional 475 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

About Oklo

Oklo Inc develops advanced nuclear fission power plants designed to provide reliable, carbon-free electricity. Its Aurora powerhouse concept uses fast-reactor technology and is designed to operate with metallic fuel, including fuel derived from recycled nuclear material. Oklo is developing its technology and has not yet established a commercial operating fleet.

The company plans to supply electricity through long-term power agreements rather than relying solely on equipment sales. Its prospective customers include data centers, industrial facilities, and other users seeking dependable power, with its development efforts focused primarily on the United States.

Founded in 2013, Oklo is headquartered in Santa Clara, California.

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